StacksVerified U.S. regulatory reference

36 CFR §51.86

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
The concessioner may not encumber, pledge, mortgage or otherwise provide as a security interest for any purpose (such transactions collectively referred to as “encumbrances” for purposes of this part), without the prior written approval of the Director, any of the following:
  1. (a)Any concession contract;
  2. (b)Any rights to operate under or manage performance under a concession contract as a subconcessioner or otherwise;
  3. (c)Any controlling interest in a concessioner or concession contract; or
  4. (d)Any leasehold surrender interest or possessory interest obtained under a concession contract.